All Forum Posts by: Luke S.

I see the subscription at $65 a month? am i missing something.

(I wanna share a subscription with someone. I am too cheap :p )

We have updated/cleaned out some of them and apparently they still aren't meeting the demand.

I am thinking of getting some new Gas water heaters for a couple of the complexes... Do you guys have any brands that are great quality or you highly recommend?

Also, how much should i expect for about a 75-100 gallon gas to cost me?

Thanks again. :)

Luke

Is there a way to put down an earnest money with that or something forcing the sale? IE. they have some skin in the game if they try to back out in 6 months?

So we also get compensated for the trouble if something were to go south.

We bought with intent to hold... But it has popped up with a deal worth taking...

any thoughts?

We have the potential ability to be rolling out of a project we picked up this fall at a great exit price. One thing that worries me though is the fact that we will be paying 'ordinary income' if we sell before we reach the 12 month period for Long Term cap gains...

Have any of you had to deal with this before? If so is there master buyout agreements or something that can be arranged? We are potentially bundling with a few other complexes and selling as one big bundle.

So we would need a way to allow them to take over our complex but not officially have it sold until later next year... Anyone have history or knowledge of doing some operation like this?

Thanks in advance.

I just had my first water heater go out in one of my 12 plexes.. I am curious how much should i expect to spend to replace it?

Each building runs 2 heaters and are roughly 100 gallon tanks.

They quoted us about $1200 for the water heater and 200 for installation. Is this in line with what you guys expect?

Are there any ones to go for or avoid? tankless/tank or a certain brand to pay up and get?

Thanks in advance,

Luke

I just picked up my first complex and am getting into the swing of things.

I am curious on the dog topic. We have a few 'therapy dog' residents. But no 'normal dogs'. Here are a few questions for you veterans.

1. Can we set rules on 'what kind of dogs to allow'? (IE just under X size)

2. Can we up rent/deposit legally on those people? (if they are willing and sign for it)

3. Any other ways you guys know how to manage this topic? Or do you try and avoid them at all costs...

I just picked up some units this week and some of the residents are used to paying with a credit card.

If i get a 'square' and use that to pay for them, it will likely cost me %2.75 of their rent to do it.

Anyone know the rules or a direction to look on if it is legal to 'upcharge' that fee to them?

feet first, head first... what's the difference :p

No, I had a consultant that owns/manages into the thousands of units and he helped us through the whole process. The accounting on this seems to be penciling out on 16% cash on cash return with a 20year amort, and 97.5% full at the moment (numbers ran on 92.5% occupancy). Small scale manager is going to oversee the property, etc... It seems like a pretty blessed setup from the start, will have to wait and see how it works :)

I am still terrified only 24 hours after closing, but I am sure by Jan 1 I will be relaxed after seeing it work for awhile.

I saw that as well and didn't want to do the same. (I doubt the residents of a 40plex want to see some twenty something's as their landlords). I found one on this site actually and re doctored it to make it relevant to our project.